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 Saudi Arabia is planning the world's largest buildings.

Saudi Prince Alwaleed bin Talal declared intentions to build the world's tallest structure near Jeddah long before Prince Mohammed rose to power.

The world's tallest structure, Dubai's Burj Khalifa, is already located in the Middle East. Saudi Prince Alwaleed bin Talal declared intentions to build the world's tallest structure near Jeddah long before Prince Mohammed rose to power. The skyscraper is still in the early stages of construction.

Some of Saudi Arabia's financial windfall from increasing oil prices will almost certainly go toward the construction of Neom. According to government officials, the powerful Public Investment Fund, which is chaired by Prince Mohammed and is the owner of Neom, might benefit from extra cash.

Yet funding has not been Neom’s challenge so far. Instead, questions have been raised about the project’s feasibility after several other giant developments intended to bolster economic diversification in the past failed to take off. The PIF, as the wealth fund is known, is trying to turn a mostly finished office cluster in northern Riyadh that cost billions to build and was commissioned under a previous ruler into a financial center.

In the hope of avoiding a similar fate, The Line will be built in stages based on demand, people involved in the project said.“When people talk about The Line, they see a futuristic Hyperloop, Star Wars type of entity,” said Ali Shihabi, a member of Neom’s advisory board. “But when The Line was presented to the board, I saw a highly intelligent, well thought-out sustainable modern city that will accommodate from laborers to billionaires and that will be built in stages, so it will follow demand.”